 "NSE")
The National Stock Exchange (NSE), on Wednesday, said that it will conduct a special live trading session on March 2, a move aimed at checking and strengthening the market's infrastructure.
"Members are requested to note that Exchange shall be conducting a special live trading session with intra-day switch over from Primary site to Disaster Recovery (DR) site on Saturday, March 02, 2024 in Equity and Equity Derivatives segments," the Mumbai-based stock exchange said in a circular.
The first trading session will be held from 9:15 am-10 am. The second trading session will be held from 11:30 am to 12:30 pm.
"All securities (including those on which derivative products are available) will have a maximum price band of 5 per cent. Securities already in the 2 per cent or lower price band, shall continue to be available in the respective bands," the NSE noted.
While close-ended mutual funds will have a price band of 5 per cent, all the futures contracts shall have a daily operating range of 5 per cent, it added.
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"No flexing of securities or futures contracts shall be applicable on that day."
The NSE said that the purpose of the special session is to assess the preparedness of market infrastructure institutions (MIIs) to handle any unforeseen event impacting business operations. The objective will also be to restore the operations from the DR site within a stipulated time period.
Notably, a special trading session was announced by the NSE and the Bombay Stock Exchange on January 20 as well. However, the session turned into a full trading session on account of the Ram temple consecration ceremony, held two days later on January 22, which was declared a holiday for the stock exchanges.
